Mary Valley properties once destined for dam to be auctioned

Patrick Begley

Twelve Mary Valley properties will go under the hammer on Saturday as the state government sells off land acquired for the failed Traveston Dam project.

The holdings range from a five bedroom Queenslander on a tropical two hectare block to 123 hectares of timber stockyards and breeding pastures.

About 460 properties, stretching over 13,000 hectares, remain in the government's hands.

Real estate agent Lex Townsend from Professionals Gympie said the auction had prompted inquiries from across Australia and more than 100 inspections.

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“The level of interest has been absolutely unbelievable,” he said.

He said he expected the sale would set a trend for the area's rural property market, which had been “almost non-existent for the past few years”.

He said buyers had hung back in case the government sold its properties at a cheaper rate.

“The government probably should have put more to the open market sooner but they've done what they've done, and they're coming to the market now.”

After announcing the Traveston Dam project in 2006, the Beattie government acquired broad swathes of land in the Mary Valley, which sits between Gympie and the Sunshine Coast.

The dam project was scuttled three years later when the former environment minister Peter Garrett denied federal approval for environmental reasons.

In late 2011, Fairfax Media reported that a leaked Cabinet Budget Review Committee document showed the Mary Valley landholdings were worth $225 million, roughly half of their original $449.5 million purchase price.

Acting Minister for State Development Tim Nicholls said Saturday's was "just one example of the government's ongoing effort to get the Mary Valley back on its feet after it was ripped apart by the former Labor Government”.

He said the sale had attracted more than 8000 visitors to the event's website during August.

6 comments so far

I was under the impression the dam concept had some flood mitigation value for the area. If so next time it floods and that is not if but next time.

Commenter

Mike D

Date and time

August 31, 2013, 5:48AM

Selling flood prone land has never been a problem for the National Party

Commenter

Jeff

Location

Gympie

Date and time

August 31, 2013, 10:35AM

Cando making some easy money for his property developer mates under the ruse of paying down debt. well played Cando, well played

Commenter

Joh BP

Location

Kingers

Date and time

August 31, 2013, 11:48AM

At least Badland Mexicanos like Froggy Newman and his Punks-n-Drunks can't blame we mainland Fair Dinkum Queenslanders for this one, we only venture into Mexico to see where our water goes..

Commenter

Geronimo

Location

Yippee Yi Yo

Date and time

August 31, 2013, 1:27PM

Selling off dams , same as schools - probably necessary as economy shrinks . Unemployment the highest of all States. Recession nanoseconds away. Nothing to grow the economy.Business confidence at a low ebb-Newman going overseas to try to whip up overseas investment. The Newman gov has stalled on many promises . Austerity at work.